During the National Day holiday, the global energy crisis continued to ferment, the international crude oil price rose, and the chemical industry sector operated strongly as a whole, driving the polyester industry chain. At the same time, affected by the dual control of energy consumption in Jiangsu and Zhejiang, the operating load of polyester weaving further fell to less than 80%, and the supply of goods was tight, mainly consumption inventory. The prices of polyester filament products rose sharply, ranging from 7-10% higher than before the national day, and the cash flow recovered to a certain extent.
Rise and fall of average market price of polyester filament, unit: yuan / ton
product 2021-10-1 2021-10-11 Rise and fall Year on year rise and fall
Polyester DTY (150D / 48F low elasticity) nine thousand two hundred and forty-one ten thousand two hundred and forty-seven 10.88% 53.20%
Polyester POY (150D / 48F) seven thousand six hundred and sixty-one eight thousand four hundred and twenty-two 9.93% 60.85%
Polyester FDY (150D / 96F) eight thousand one hundred and eleven eight thousand six hundred and ninety-eight 7.24% 55.42%
On the raw material side, crude oil rose sharply. On October 8, the settlement price of the main contract of WTI crude oil futures in the United States was US $79.35/barrel, up US $1.05 or 1.3%, and the settlement price of Brent crude oil futures was US $82.39/barrel, up US $0.44 or 0.5%. As winter approaches, fuel demand increases, superimposed supply tightening is difficult to ease, and oil prices are still strong and volatile. In PTA market, as of October 11, the average price of domestic PTA spot market was 5543 yuan / ton, up 9.35% from October 7 and 66.73% year-on-year. With the continuous maintenance of the plant, the industrial commencement dropped to around 60%, and the output at the supply end was compressed.
During the National Day holiday, some textile factories in Jiangsu and Zhejiang that were shut down due to power restriction in the early stage resumed operation one after another, and the comprehensive startup rate of Jiangsu and Zhejiang looms was raised to around 54%. Due to the continuous rise of raw materials for many consecutive days, the rise of shipping prices and labor costs are also rising. The superposition of “power limitation and shutdown” makes many textile bosses downstream miserable. Weaving factories gradually accepted the fact that the upstream price rose and raised the finished product price one after another. On October 9, the chamber of Commerce for home textiles of shading cloth around Taihu Lake (including 100 shading cloth enterprises) issued a notice of price increase:
How long will this wave of price rise last? Business analysts believe that the current high prices of natural gas and coal, strong market expectations for heating demand in winter, boost the rise of crude oil prices, and the cost side price will still be strong. Boosted by raw materials, downstream weaving enterprises are also singing loudly, so that they have to transfer costs downward. At present, under the background of dual control of energy consumption, the production restriction of the industrial chain will become a fact. It is expected that the price of polyester filament will maintain an upward trend in the short term.
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